Torque Capital Group and other investors have acquired Brake Parts, a manufacturer and supplier of brake system products.
“Now that the transaction has been completed, the Brake Parts team along with our strategic partners are eager to move forward,” said President and CEO David Overbeeke. “Brake Parts has a strong heritage of leading the category in product quality and innovation, first to market applications and superior customer service.”
Brake Parts (BPI) is a global brake system products manufacturer and supplier to the transportation industry. Products include brake pads, shoes, rotors, drums, calipers, hydraulic parts and wheel hubs. The company is headquartered in McHenry, IL (www.BrakePartsInc.com) (www.Raybestos.com).
“Torque and our investors were particularly attracted to BPI’s strong management team and their leading market position in the North American brake parts aftermarket. We are excited by the prospect of leveraging the Raybestos brand of brake products to drive international sales growth, particularly in Asia,” said Joseph Parzick, Managing Partner of Torque Capital Group.
Torque Capital Group invest from $2 million to $15 million of equity in companies with revenue up to $100 million and EBITDA of less than $10 million. Sectors of interest include manufacturing and industrials with a specific interest in automotive, building products, aerospace & defense and consumer & retail. The firm is based in New York (www.torquecap.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 3-26-13